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Primark sales up 4%

Associated British Foods has reported that Primark sales rose by 4% in the 40 weeks to 22 June. The uplift was driven by an increase in… View Article

FASHION

Primark sales up 4%

Associated British Foods has reported that Primark sales rose by 4% in the 40 weeks to 22 June.

The uplift was driven by an increase in selling space.

Sales growth in the UK continued from the first half into Primark’s third quarter. However, like-for-like sales growth was  held back by unseasonable weather in May although there was an improvement in sales growth in June.

Trading at Primark’s  new stores was particularly strong in the period. The company said it is pleased with customers’ reaction to its new store in central Birmingham which also offers a beauty service.

Sales in the Eurozone were also affected by unseasonable weather in May but trading recovered strongly in June. Sales grew in Spain, Portugal, France and Italy but were  weak in Germany.

ABF said its US business is continuing to perform well. It is planning to open new stores at American Dream, New Jersey and Sawgrass Mills in the next 12 months. It has also exchanged contracts on a store in State Street in Chicago.

The company said it is expecting “good profit growth” for Primark in its full year.

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